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TODAY'S OTHER NEWS

Paragon introduces new portfolio and BTL products

Paragon has launched several new mortgage products for portfolio and non-portfolio landlords.

Products include a 75% loan-to-value (LTV) two-year fix at 3.55% and a 75% LTV five-year fix at 3.8%.

A new 75% LTV five-year fix at 3.9% has also been launched for MUBs and HMOs and includes a 0.5% fee, along with a 75% LTV two-year fix at 2.85% and an 80% LTV two-year fix at 3.5%.

In addition, Paragon has increased procuration fees on switch products from 0.25% to 0.3%. Further advance proc fees remain at 0.5%.

John Heron, managing director at Paragon, said: “This is a significant refresh of our portfolio and non-portfolio buy-to-let mortgage product range, designed to extend the choice and flexibility for landlords with portfolios varying in size and complexity.

“The competitive rates we offer, alongside fee-free products and our specialist underwriting capability, makes Paragon one of the first choices for portfolio and non-portfolio landlords.

“We also understand the valuable contribution our intermediary partners make in ensuring the right products are delivered to the right customers. Where a broker recommends a Paragon switch product and is proactively engaged in the process, we believe that it is appropriate that the intermediary is rewarded, which is why we’ve increased proc fees to 0.30%.”

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